CVA Group completed the acquisition of a 60% stake in Renergetica for €49m.

CVA Group, a green energy company, completed the acquisition of a 60% stake in Renergetica, a renewable source systems and solutions, for €49m. “The agreement signed today with the CVA Group represents a milestone for Renergetica's industrial future, allowing the full exploitation of the portfolio of skills of its people and internal development team, the exclusive driver of the development of the pipeline of new renewable projects, which in Italy has exceeded 860MW. The CVA Group represents the ideal partner to fully execute the medium-to-long term value creation strategy undertaken by Renergetica in the last twelve months, so far focused on the valorisation of projects at the end of the authorization process, to capture their industrial value until they reach ready to build status. Renergetica, with the support of the CVA Group and Exacto, takes a decisive step forward in its transformation process from pure Developer to Independent Power Producer of primary standing to support the new growth phase of the Italian renewables market," Stefano Giusto, Renergetica President and CEO.